KANSAS CITY, Mo. — The triple whammy of COVID, unrest in Ukraine and disruptions to the supply chain are conspiring against people across the world, including here in Kansas City.
“There is a light at the end of the tunnel, but it’s not this holiday season,” William Black, associate professor of economics at the University of Missouri - Kansas City, said. “It’s next holiday season and an even bigger light is the holiday season after that.”
With a target date for relief in 2024, Black says shoppers have gotten resourceful.
“We have vastly more choices than most of the rest of the world,” he said. “If something goes up we can buy something else. In economic jargon we call these substitutes.”
Shoppers at the Merc Co-Op in Kansas City, Kansas, said they are paying close attention to price heading into the holiday season.
“Probably asking other family members to bring things instead of providing everything for everyone,” Lisa Holliday said. “Everyone does a little bit.”
Ashley Harris said sometimes a choice comes down to pennies.
“Even if it’s a cent more, I pick the one that’s smaller,” Harris said. “I go for the price. I always look at the price.”
Black says you don't need to be an economist to understand much of the circumstances.
“All of us understand this as consumers,” Black said. “That’s the thing about inflation is every time you buy something, you’re reminded.”
